Sanjay Bhattacharya, Kirankumar S. Momaya and K. Chandrasekhar Iyer
To suggest a conceptual framework to benchmark enablers of growth and link them to performance metrics, duly supported theoretically with definitions and literature review. The…
Abstract
Purpose
To suggest a conceptual framework to benchmark enablers of growth and link them to performance metrics, duly supported theoretically with definitions and literature review. The sub-objectives of the study are the following:
To identify enablers based on theories and antecedents of growth
To establish key leads on how the identified enablers have been deployed by leading construction companies, basis their stages of growth and economic context
To identify which enablers have higher potential to contribute to competitiveness and growth in an effort to benchmark performance
To establish if the enablers deployed is dependent on the market maturity and economic context
To identify enablers based on theories and antecedents of growth
To establish key leads on how the identified enablers have been deployed by leading construction companies, basis their stages of growth and economic context
To identify which enablers have higher potential to contribute to competitiveness and growth in an effort to benchmark performance
To establish if the enablers deployed is dependent on the market maturity and economic context
Design/methodology/approach
The enabler-mix-based approach is evolved through literature review, inputs from industry practitioners, and subsequent empirical analysis. To explore relationships, the primary methodology suggested is building theory from practice, justified in specific industry and regional economic context. Content analysis has been used for validation of the framework.
Findings
Traditional strategy literature suffers from the limitations in terms of applicability and specific contextual settings. In a rapidly changing and varied environment coupled with the context of emerging countries, there is a need for a benchmarked framework for strategy and growth. The evidence toward utility of the framework has been established through a quick analysis of leading construction companies. Capabilities for “operational and process excellence,” “unique products and services,” and “visionary leadership” emerged to be the higher ranked core growth enablers. However, the deployment of these enablers is dependent on the maturity of the company and its economic context.
Research limitations/implications
This simpler and generic framework analyzes the relative impact on performance, as well as the inter-enabler interaction and substitution effects, in the context of construction companies.
Practical implications
In the context of industries that are volatile in nature (like the construction industry), strategy tools need to be simple and generic towards practical and uncomplicated application for the managers, to achieve positive outcomes.
Originality/value
This paper offers fresh perspectives to benchmarking literature in terms of enablers to deliver growth performance, in the context of construction companies. It attempts to fill the gap in evolving simple strategy tools to ensure sustainable growth performance in industries having nascent research support and less availability of data so far. In the context of industries that are volatile in nature (like the construction industry), strategy tools need to be simple and generic toward practical and uncomplicated application for the managers to achieve positive outcomes.
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Sanjay Bhattacharya and K.S. Momaya
The Fourth Industrial Revolution (4IR) holds the potential to improve capabilities- and technology-based innovation, which will enable breakout for architectural, engineering…
Abstract
Purpose
The Fourth Industrial Revolution (4IR) holds the potential to improve capabilities- and technology-based innovation, which will enable breakout for architectural, engineering, construction and operation and maintenance (AECO) companies, for international competitiveness. Though the top management of such companies is convinced on the utility of the applications, they are unsure on the strategy of implementing the same. The objective of this research is to suggest a strategy framework for digital transformation of the AECO value chain.
Design/methodology/approach
The nascent level of research on 4IR in construction necessitated the adoption of the integrative review methodology for the study. Extensive literature review of research on strategy and 4IR has been utilized to establish the validity of the first two pillars, namely “a strategy of simple rules in a complex environment; and deployment of dynamic capabilities.” The validation of a construct for the third pillar of “confluence of change and continuity forces” has been achieved via hypothesis testing of data obtained through a questionnaire survey.
Findings
The present study has integrated three diverse ideas of strategy, named as the pillars, to facilitate sustainable digital transformation. Within the third pillar, top three continuity forces which offer resistance to change are organization culture, existing delivery processes and networks, and existing standard operating procedures. On the other hand, the leading drivers of change are needs of competitiveness; global industry trends and the advent of new technologies/innovations.
Research limitations/implications
This provides a practical approach to operationalize digital transformation of the AECO at an organization level. The validation relied on opinion and perspectives of a sample frame in the Indian context, which was its limitation.
Originality/value
This paper suggests a strategy framework of three pillars to help address specific strategy dilemmas during implementation of digital transformation of particular organizations in AECO. The study contributes to both theory and practice by helping leaders of AECO companies, associations, policymakers and the academia to strategize transformations successfully.
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Sanjay Bhattacharya, Kirankumar S. Momaya and K.C. Iyer
Successful handling and delivery of projects requires commensurate growth in the business capabilities of construction companies. The current scenario of exponential…
Abstract
Purpose
Successful handling and delivery of projects requires commensurate growth in the business capabilities of construction companies. The current scenario of exponential infrastructure boom in India necessitates scaling up to meet the challenges of competitiveness. The objectives of this study are to (1) identify the enablers of sustainable business growth among Indian construction companies, (2) identify gaps in the deployment of the enablers in comparison to competitive successful international construction companies and (3) suggest strategic initiatives to top management of companies and policymakers for promoting business growth and industry competitiveness.
Design/methodology/approach
A detailed literature review first identifies an adapted framework for enablers of growth and growth performance of successful international construction companies on basis of industry trends. Thereafter, a questionnaire survey was administered on the leading construction companies in India to assess the deployment of enablers and gaps thereof. A total of 108 valid responses were obtained from top management executives of the companies and analysed through descriptive statistics and hypothesis testing.
Findings
Studies indicate that anticipation of new demands and capabilities; business opportunity scanning and human resource skills and capabilities are among the most important enablers of growth. The role of leadership vision and focus on development of human resources is critical to competitiveness and growth. The successful international construction companies have delivered growth utilising their ability to deploy multiple strategies, diversification and new business opportunities. These are sparingly deployed by Indian companies.
Research limitations/implications
The study is limited to the opinion and perceptions of the top management personnel of the construction companies.
Practical implications
High economic growth context offers a unique opportunity for domestic Indian construction companies to leverage. The valuable insights gained from this study provide hints to the top management of these companies to draw managerial implications for facing the challenges ahead and delivering projects in the dynamic and hyper-competitive construction industry. The policymakers on their part are responsible to support and promote initiatives for sustainable growth.
Originality/value
The study suggests business growth enablers to construction companies in India to improve their international competitiveness.
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The purpose of this paper is to analyze the patterns of location of key activities for break-out in corporate competitiveness. The key objective is to identify linkages that may…
Abstract
Purpose
The purpose of this paper is to analyze the patterns of location of key activities for break-out in corporate competitiveness. The key objective is to identify linkages that may exist among the location of corporate center activities, innovation capabilities and the break-out.
Design/methodology/approach
Patterns of location of corporate center across the world have been explored first, using sample data from Global 500. For the context of innovation and India, two polar locations were selected. The patterns in the growth of focal firms from the locations were evaluated using select competitiveness criteria such as revenues, profits and assets, based on data of a larger sample from Global 2000.
Findings
Findings support the view on “role of location with innovation clusters” such as Bangalore, particularly for competitiveness of born global firms. Surprisingly, Mumbai has increased its percentage share of contributions in terms of revenues and profits, indicating sustenance of cluster, entrepreneurial and other advantages.
Practical implications
Considering the enormous scope for enhancing contributions of emerging-country multinational enterprises to the world economy, decisions related to break-out in competitiveness are critical. Depending on strategic intent and the role of innovation and internationalization, firms can take better decisions related to the location of specific corporate activities to foster multinational enterprise (MNE) competitiveness.
Social implications
The findings may inspire key stakeholders to take decisions that enhance sustainability of city clusters and communities.
Originality/value
Analyzing the role of location of key corporate activities, for the phenomenon “break-out to higher stages of competitiveness”, is a unique contribution. These concepts and findings can be of high value to firms and MNEs thinking long term about location or relocation of corporate center activities, particularly for innovation.
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Tapan Sahoo, D.K. Banwet and K. Momaya
The automobile industry in India is one of the sunrise industries and is poised to enhance its contribution from 5 percent of GDP in 2006 to 10 percent by 2016. The auto component…
Abstract
Purpose
The automobile industry in India is one of the sunrise industries and is poised to enhance its contribution from 5 percent of GDP in 2006 to 10 percent by 2016. The auto component industry in India has grown hand in hand with the industry and is in the process of transforming itself from being a “Job order fulfiller” to being an “Integrated organization”. With the liberalization process having started in 1991, most auto component manufacturers in India have chosen the easy path of attempting to progress on operational or manufacturing capabilities. For advancing on technology capability dimension, they mostly relied on international collaborations. The purpose of this paper is to study the strategic technology management (STM) practices in select case organizations in the auto component industry in India.
Design/methodology/approach
The methodology employed for this study is a combination of literature survey, expert opinion, comparative case study and a flexible systems methodology, situation‐actor‐process‐learning‐action‐performance analysis. Longitudinal studies of technology development at the two case organizations have been done and the case analysis and synthesis has been developed based on valuable inputs and insights shared by key personnel in the case organizations.
Findings
The study finds that two different organizations have adopted different technology strategies. While both case organizations have strong linkage between business and technology strategy, the approach has been reasonably different for technology acquisition and development. The findings suggest that an effective STM can contribute to faster technology absorption and overall business performance. Organizations in India need to develop the in‐house capabilities along with suitable technology acquisitions, wherever required.
Originality/value
The two cases provide valuable insights into STM practices in two organizations and highlight the methodology adopted by the companies in their evolutions toward becoming world‐class integrated organizations. The learning can provide the way forward for capable firms in the auto component industry in India.
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Nikhil Suryakant Ghag, Padmanav Acharya and Vivekanand Khanapuri
It is critical for small and medium-scale enterprises (SMEs) to review and monitor sustainability performance indicators across three dimensions: economic, environmental and…
Abstract
Purpose
It is critical for small and medium-scale enterprises (SMEs) to review and monitor sustainability performance indicators across three dimensions: economic, environmental and social to attain long-term competitiveness. SMEs lack a holistic perspective on sustainability; they are frequently hindered from contemplating environmentally favorable investments beyond what is legally needed. The purpose of this paper is to present a joint Decision-making trial and Evaluation Laboratory (DEMATEL) and NK methodology for developing a process model for introducing and implementing sustainable competitiveness practices for SMEs.
Design/methodology/approach
This study addresses the issue by adopting a sustainable competitiveness practices framework and applying a novel method that integrates DEMATEL and NK model for evaluating and developing the implementation path model for Indian manufacturing SMEs.
Findings
This paper also demonstrates that not only the relational practice itself but also the order in which the relational practices are implemented can be related to performance. According to the authors' preliminary findings, organizations in this study should first implement a social dimension, which includes sustainable leadership, knowledge sharing, etc., then an economic dimension like quality, sustainable innovations, etc., and finally environmental dimensions like green marketing, solid waste reduction, etc., with their management for competitiveness.
Research limitations/implications
These findings offer some preliminary information as well as advice for managers and policymakers looking to integrate sustainable efforts.
Practical implications
This study asserts that not only the interdependent practice but also the sequence of implementation is important and can relate to the performance. The path result shows that the organization develops first sustainable design and product development (economic), sustainable leadership (social) and solid waste reduction (environmental) practices.
Originality/value
There is no such study that develops a process model for introducing and implementing sustainable competitiveness of SMEs which assesses and analyzes the interdependencies across relational behaviors, to the best of authors’ knowledge. The novelty of this work lies in integrating DEMATEL-NK model approach.
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Lerato Aghimien, Clinton Ohis Aigbavboa and Douglas Aghimien
The current era of the fourth industrial revolution has attracted significant research on the use of digital technologies in improving construction project delivery. However, less…
Abstract
The current era of the fourth industrial revolution has attracted significant research on the use of digital technologies in improving construction project delivery. However, less emphasis has been placed on how these digital tools will influence the management of the construction workforce. To this end, using a review of existing works, this chapter explores the fourth industrial revolution and its associated technologies that can positively impact the management of the construction workforce when implemented. Also, the possible challenges that might truncate the successful deployment of digital technologies for effective workforce management were explored. The chapter submitted that implementing workforce management-specific digital platforms and other digital technologies designed for project delivery can aid effective workforce management within construction organisations. Technologies such as cloud computing, the Internet of Things, big data analytics, robotics and automation, and artificial intelligence, among others, offer significant benefits to the effective workforce management of construction organisations. However, several challenges, such as resistance to change due to fear of job loss, cost of investment in digital tools, organisational structure and culture, must be carefully considered as they might affect the successful use of digital tools and by extension, impact the success of workforce management in the organisations.
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Khushnuma Wasi, Tisha Rajeev Pantawane, Nakul Parameswar and M.P. Ganesh
Technological start-ups are significant contributor to the innovation and employment provider in an economy. Numerous technological start-ups are established every year; however…
Abstract
Purpose
Technological start-ups are significant contributor to the innovation and employment provider in an economy. Numerous technological start-ups are established every year; however, only a miniscule percentage of these technological start-ups sustain and scale up in the long run. The aim of this study is to investigate the factors that affect Indian technological start-ups’ competitiveness.
Design/methodology/approach
Case study analysis of two technological start-ups (namely, WayCool and Moglix) is undertaken to study the factors affecting the competitiveness of technological start-ups in India. Being a relatively underexplored theme of study in entrepreneurship and strategy, case analysis facilitates exploration and validation of factors influencing competitiveness. Information for case study analysis is drawn from secondary sources of information. The collected data undergoes deductive thematic analysis to systematically identify and examine recurring themes and patterns relevant to the competitiveness of Indian technological start-ups.
Findings
Case analysis reveals that innovation intensity, organisational agility and internationalisation influence competitiveness of technological start-ups. The importance of the role of each of these factors for entrepreneurial ventures has been highlighted in literature; however, their effect on competitiveness has not been examined in extant literature.
Research limitations/implications
Being among the few studies on the competitiveness of technological start-ups in specific and start-ups in general, this study highlights the gap in the literature and suggests the need for examining the competitiveness of technological start-ups.
Practical implications
For the practitioners, this study reinforces the need for entrepreneurs to emphasise fundamental factors that build competitiveness. Subsequently, the sources of competitiveness shall enable the start-up to gain a competitive advantage.
Originality/value
This is among the few studies to have explored the competitiveness of technological start-ups in the Indian context.
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Anuj Aggarwal, Sparsh Agarwal, Vedant Jaiswal and Poonam Sethi
Introduction: Historically, the corporate governance (CG) framework was designed primarily to safeguard the economic interests of shareholders, as a result of political and legal…
Abstract
Introduction: Historically, the corporate governance (CG) framework was designed primarily to safeguard the economic interests of shareholders, as a result of political and legal interventions, developing into an effective instrument for stakeholders and society in general.
Purpose: The core objectives of the study include: identifying journals/publications responsible for publishing CG studies in India, key CG issues covered by CG researchers, the amount of high-impact CG literature across different time periods, sectors/industries covered by CG researchers and different research instruments (quantitative or qualitative) used in CG studies in India.
Design/methodology: The chapter used a sample of 130 corporate governance studies that fulfil the selection criteria, drawn from the repository of over 100 reputed journals that are either recognised by the Australian Business Deans Council (ABDC) or indexed by SCOPUS. A systematic literature review has been carried out pertaining to CG issues in India, based on various statistical tools, data, industries, research outlets & citations, etc.
Findings: The results show an overwhelming number of studies have assessed the relationship between CG variables and firm performance, which could be measured through a variety of performance metrics such as ROA and ROI. Apart from empirical analysis, many conceptual studies use repetitive basic statistical tools like descriptive statistics or regression analysis. The chapter offers insights into current achievements and future development.
Originality/value: This bibliometric study is a useful guide for policymakers, corporate leaders, research organisations and management faculty to draw insights from work produced by eminent researchers in GC in India.
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Manjeet Kharub and Rajiv Sharma
The purpose of this paper is to measure and analyze the competitive advantage of micro, small and medium enterprises (MSMEs) based upon the Porter’s diamond framework. The major…
Abstract
Purpose
The purpose of this paper is to measure and analyze the competitive advantage of micro, small and medium enterprises (MSMEs) based upon the Porter’s diamond framework. The major objective is to contribute toward better understanding of various determinants of the diamond model in context within Indian MSMEs.
Design/methodology/approach
Extent review of the literature has been done to identify various critical factors contributing to developing a competitive advantage. Exploratory factor analysis and internal consistency tests were performed to verify scales validity and reliability of measuring instrument (questionnaire). In research design, a case study approach has been used, in which MSMEs operating in the pharmaceutical, electrical and electronics, automobile, food and textile sectors were considered.
Findings
Study findings indicate that the pharmaceutical sector is more competitive followed by food (112.491) as revealed by the high value of surface area i.e. 150.931. The competitiveness among MSME sectors is mostly affected by demand conditions followed by firm strategy, structure and rivalry. Moreover, the score of diamond axes indicates significant difference with respect to determinants. For instance, in the textile sector, the determinants such as factor conditions and related and supporting industries scored low, for example, 4.710 and 4.280, respectively, which indicates it needs to be strengthened as this sector stands at last position with minimum surface area, for example, 67.398.
Research limitations/implications
Owing to the time and resource constraints, this study was conducted in MSMEs situated in the state of Himachal Pradesh, India, and thus generalizations of results are rather limited.
Practical implications
This study is one of the original being undertaken by authors which helps to underline the importance of various determinants which may help the MSME units to improve competitiveness by implementing effective competitive strategies. The study could be extended to other regions of the country.
Originality/value
This study is a result of extended research on competitiveness and provides an instrument to measure firm ability to be competitive. CEO’s, managers and policy makers from industries as well as government will be able to use this to evaluate their competitive positioning and identify key problem areas which required improvements.